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20121101
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presidential campaign behind him, president barack obama used his first major remarks since reelection to dive right into a showdown over the looming fiscal cliff. >> we are serious about about reducing the deficit. we have to combine spending cuts with revenue. and that means asking the wealthiest americans to pay a little more in taxes. >> a group of middle class miles an hours, the president staked his position for crucial negotiations develop the white house and capitol hill. extending a negotiation with both parties meeting with him next friday. they warn the combination of tax cuts set to expire and automatic federal spending cuts poised start kicking in on january 1st could put the country back into a recession if a compromise is not reached. the chief negotiator, house speaker, said on friday that raising taxes is not the answer. >> everyone wants to get our economy moving again. everyone wants more americans back to work again. raising tax rates will slow down our ability to create the jobs that everyone says they want. >> reporter: without an agreement the average american household
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